In this episode Ben Woodfinden is joined by Ken Boessenkool, Tyler Meredith, and Shannon Phillips to discuss:

• The “teaser budget” and how Prime Minister Trudeau and Mark Carney are framing a transformational moment for Canada’s economy
• What the language of sacrifice and “transformation” really signals for Canadians and how it landed with students
• The political balancing act between fiscal discipline, industrial policy and trade diversification
• “Buy Canadian,” AI investment, and talent strategy as pillars of the new industrial vision
• Canada’s evolving housing landscape and the impact of Alberta’s municipal elections
• “Around the Hall”  the developments and signals to watch in the weeks ahead

Key Takeaways

On the Teaser Budget and Carney’s Framing

• MEREDITH: The decision to deliver a pre-budget address was about setting expectations, signalling a generational budget and framing the conversation before it lands.
• BOESSENKOOL: Carney is setting the bar extremely high, a “Paul Martin problem” of over-promising transformation before delivery.
• PHILLIPS: Doubling non-U.S. exports is a massive lift that would require a complete retooling of Canada’s economy.

On Sacrifice, Youth and Fiscal Balance

• MEREDITH: “Sacrifice” was framed as unity, a shared commitment to tough choices, but it also prepares Canadians for spending restraint in some areas.
• WOODFINDEN: The line landed awkwardly before university students who have seen house prices double and job prospects tighten, a telling communications moment.
• BOESSENKOOL: It was written for national media, not the room, a preview of the government’s tough-talk tone heading into budget day.

On Industrial Strategy and AI

• MEREDITH: Expect direction on AI sovereignty, data centres, cloud capacity and digital infrastructure, with details to follow after the budget.
• WOODFINDEN: Carney’s focus on critical minerals, AI, and education highlights Canada’s core comparative advantages.
• BOESSENKOOL: Expanding Canada Research Chairs to attract top global talent would be a small but strategic move with outsized impact.
• PHILLIPS: The speech underplayed existing wins like childcare and middle-class tax relief, missed chances to show tangible progress.

On Housing and Regional Reality

• BOESSENKOOL: Canada faces multiple regional crises, not one national problem, solutions must reflect local realities.
• MEREDITH: Roughly $50 billion in housing initiatives (Build Canada Homes, MERB, modular construction, DC cuts) are coming, the challenge is execution and coordination.
• PHILLIPS: Co-operative and mixed-model housing is absent from today’s debate, civil society needs to reclaim that space.

On Alberta’s Municipal Elections and Coordination

• PHILLIPS: Calgary’s new leadership opens space for fresh federal-municipal collaboration; there’s room for constructive reset.
• MEREDITH: Real housing progress depends on provincial alignment, that’s where the legal and policy levers sit.

On Parliament and Political Timing

• MEREDITH: Passing the budget is only step one, implementation and supply votes create multiple points of leverage in a minority Parliament.
• BOESSENKOOL: Minorities often last longer than expected, election threats are constant but rarely materialize.
• WOODFINDEN: Moving the budget to fall forces discipline and changes how opposition parties plan their moves.

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